New integration to streamline decision making for advisers

The wealth management group’s new integration is available for clients who hold a Macquarie Cash Management Account (MCMA), which CFS says “will streamline adviser decision making and drive advisers’ efficiencies when managing their clients’ portfolios”. 

The new solution will accelerate advisers’ decision making by allowing them to view their clients’ MCMA balance and transactions alongside the FirstWrap Investor Directed Portfolio Services portfolio. 

CFS chief distribution officer Bryce Quirk said the new integration is a direct response to adviser demands.  

“Advisers have told us that they need visibility of their clients’ overall wealth and cash positions. We have listened to their feedback and believe this solution will give advisers a more holistic picture of their clients’ financial positions, which will support better decision making,” Mr Quirk said. 

“The changes create efficiencies for the many clients who use the MCMA, allowing advisers to spend less time on administration and more time with their clients.” 

The news follows CFS appointing EOS at Federated Hermes this week to provide engagement, voting and public policy support for its global equity investments. 

The move will see EOS provide ESG support to nine Australian institutions representing $320.5 billion in assets under advice. 

Meanwhile, a revamp of its wrap business is expected to follow with a new platform set to launch in late 2022. 

CFS said it has appointed FNZ as the platform provider to replace its current solution under its unique platform-as-a-service (PaaS) model, in a bid to lift its competitiveness by creating a “market leading” proposition for financial advisers.

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.